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The dynamic relationship between the US GDP, imports and domestic production of crude oil

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Abstract:

This article investigates the dynamic relationship between crude oil imports, gross domestic product (GDP) and domestic crude oil production of the United States using a Vector Error Correction model estimation, generalized impulse response functions, persistence profile and variance decompositions. This article results suggest that the GDP has a leading role in determining oil imports.

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/00036840701367531

Affiliations: Department of Finance and Economics, King Fahd University of Petroleum and Minerals, Dhahran 31261, Saudi Arabia

Publication date: November 1, 2009

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